Recurring Capital Expenditures definition

Recurring Capital Expenditures means capital expenditures made in respect of a Property for maintenance of such Property and replacement of items due to ordinary wear and tear including, but not limited to, expenditures made for maintenance or replacement of carpeting, roofing materials, mechanical systems, electrical systems and other structural systems and expenditures relating to tenant improvements and leasing commissions. “Recurring Capital Expenditures” shall not include any of the following: (a) improvements to the appearance of such Property or any other major upgrade or renovation of such Property not necessary for proper maintenance or marketability of such Property; (b) capital expenditures for seismic upgrades; or (c) capital expenditures for deferred maintenance for such Property existing at the time such Property was acquired by the Borrower or a Subsidiary.

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Recurring Capital Expenditures means mandatory and recurring landlord capital expenditures made in respect of a Property for maintenance of such Property and replacement of items that have a useful life of under 5 years. “Recurring Capital Expenditures” for a period shall also include “Leasing Costs and Commissions” as set forth in the Borrower’s statement of “Adjusted Funds From Operations” for such period.

Recurring Capital Expenditures shall not include any of the following: (a) improvements to the appearance of such Property or any other major upgrade or renovation of such Property not necessary for proper maintenance or marketability of such Property; (b) capital expenditures for seismic upgrades; or (c) capital expenditures for deferred maintenance for such Property existing at the time such Property was acquired by the Borrower or a Subsidiary.

Examples of Recurring Capital Expenditures in a sentence

• As of any date of determination, an amount equal to the sum of (a) Consolidated EBITDA for the prior four (4) consecutive fiscal quarters most recently ended minus (b) all Fixed Charges for such period, minus (c) Recurring Capital Expenditures for such period.

• As of any date of determination, an amount equal to the sum of (a) Consolidated EBITDA for the prior three (3) consecutive fiscal quarters most recently ended (for the initial Distribution pursuant to §8.7(b), and thereafter the prior four (4) consecutive fiscal quarters most recently ended minus (b) all Fixed Charges for such applicable period, minus (c) Recurring Capital Expenditures for such applicable period.

• Grantor hereby agrees to pay all Recurring Capital Expenditures with respect to Grantor and the Trust Property (without regard to the amount of money then available in the Capital Expenditure Reserve Sub-Account).

• Provided that no Event of Default shall have occurred, all funds deposited into the Cash Collateral Account relating to Recurring Capital Expenditures shall be held by Beneficiary pursuant to the provisions of this Deed of Trust and shall be applied in payment of Recurring Capital Expenditures.

• The proceeds of the Loan shall be used to refinance the BOK Loan, to finance Permitted Acquisitions, Recurring Capital Expenditures, additional equipment and asset purchases and to provide additional working capital for Borrower.

More Definitions of Recurring Capital Expenditures

Recurring Capital Expenditures means mandatory and recurring landlord capital expenditures made in respect of a Property for maintenance of such Property and replacement of items that have a limited useful life. “Recurring Capital Expenditures” for a period shall also include “Leasing Costs and Commissions” as set forth in the Borrower’s statement of “Adjusted Funds From Operations” for such period.

Recurring Capital Expenditures means the Capital Expenditures reflected in (and limited by) the Approved Budget for recurring items.

Recurring Capital Expenditures means expenditures relating to capital repairs, replacements and improvements performed at the Trust Property from time to time.

Recurring Capital Expenditures means capital expenditures made in respect of a Property for maintenance of such Property and replacement of items due to ordinary wear and tear including, but not limited to, expenditures made for maintenance or replacement of carpeting, roofing materials, mechanical systems, electrical systems and other structural systems and expenditures relating to tenant improvements and leasing commissions. "Recurring Capital Expenditures" shall not include any of the following: (a) improvements to the appearance of such Property or any other major upgrade or renovation of such Property not necessary for proper maintenance or marketability of such Property; (b) capital expenditures for seismic upgrades; or (c) capital expenditures for deferred maintenance for such Property existing at the time such Property was acquired by the Borrower or a Subsidiary.

Recurring Capital Expenditures with respect to Borrower on a consolidated and consolidating basis, means capital expenditures necessary for the routine and customary maintenance and repair of Borrower's natural gas compressors and other Inventory, including, without limitation, capital expenditures necessary for major overhauls, refurbishments and other similar expenditures in accordance with GAAP.

Recurring Capital Expenditures means capital expenditures made in respect of a Property for maintenance of such Property and replacement of items due to ordinary wear and tear including, but not limited to, expenditures made for maintenance or replacement of carpeting, roofing materials, mechanical systems, electrical systems and other structural systems and expenditures relating to tenant improvements and leasing commissions. “Recurring Capital Expenditures” shall not include any of the following:

Recurring Capital Expenditures means, for each Fiscal Quarter, the following amounts: ================================================================================ Amount -------------------------------------------------------------------------------- Each Fiscal Quarter ending on or before September 30, 1997 $500,000 -------------------------------------------------------------------------------- Each Fiscal Quarter ending on or before September 30, 1998, $556,250 but after September 30, 1997 -------------------------------------------------------------------------------- Each Fiscal Quarter ending after September 30, 1998 $625,000 ================================================================================